| Abstract:This paper evaluates the innovation efficiency of strategic emerging enterprises based on the stochastic frontier analysis. Then makes path analysis to identify the innovative driving factors of strategic emerging enterprises from the perspective of innovation incentives of internal corporate governance and external environment. According to the research of 389 listed strategic emerging enterprises from 2011 to 2016, it is found that the enterprise innovation efficiency is quite different, and has the technological progress effect, which is decreasing with time. Specifically, government subsidies, market competition, equity ratio, salary of directors, and proportion of independent directors show innovation driven effect; stock hold of senior manager shows innovation inhibitory effect; additionally, the public property strengthens the innovation driven effect of stock hold of senior manager in the same direction and the incentive effect of stock circulation in the opposite direction. |
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